Phillip Securities (POEMS) Review - Singapore's pioneer trading platform

Some of the common questions we have been getting frequently are – “There are so many stock brokerages and investment platforms, how do I choose the best one for my financial needs?”

Many of you have also asked “Which trading platforms should I consider? Particularly one that allows me to invest with my CPF and SRS funds” 

This brings us to the Phillip Securities (POEMS) trading platform - Singapore's pioneering online trading platform.

What exactly is Phillip Securities (POEMS)?

When you hear the word ‘POEMS’, the first thing that comes to mind would most likely be a genre of literature.

Phillip Securities (POEMS) in Singapore context actually refers to “Phillip’s Online Electronic Mart System” and has been a significant fixture in Singapore’s financial industry for nearly three decades. 

Launched by Phillip Securities in 1996, the Phillip Securities (POEMS) trading platform offers extensive access to numerous exchanges and over 40,000 financial products including, stocks, bonds, unit trusts, forex, futures, insurance, and even a Regular Savings Plan.

What are some of the key features of Phillip Securities (POEMS)?

• It allows you to park your idle cash and earn with Money Market Funds (SMART Park) at 3.72%* p.a. for SGD / 5.46%* p.a. for USD with no lock-in periods
• 0 Platform Fees, 0 Custody Fees, 0 Settlement Fees
• No Hidden Fees
• Competitive rates for 26 exchanges
• Fund & Trade in 10 different currencies
• 2000+ Unit Trusts at 0% Sales Charge, 0% Switching Fee, and 0% Platform Fee
• Timely and well-researched stock reports provided by Phillip Securities Research analysts

*Rates updated as of 5 February 2024. 

Based on the average rate of annualised returns over the last rolling week.

Past performance is not necessarily indicative of future performance.

#1 Wide range of financial products and markets

Phillip Securities (POEMS) provides investors with a wide selection of investment products as well as access to various markets.

If you are interested in growing your portfolio of stocks and ETFs, POEMS offers access to 26 exchanges, including the Singapore Stock Exchange (SGX), New York Stock Exchange (NYSE), Hong Kong Stock Exchange (HKEX), London Stock Exchange (LSE), and Bursa Malaysia.

For those looking to invest in unit trusts, Phillip Securities (POEMS) boasts a selection of over 2,000 Unit Trusts.

Did you know that POEMS’ SMART Park allows you to park your idle cash and earn a yield with no lock-in period?

#2 – Invest using your CPF and SRS funds 

If you are thinking of using your CPF and SRS funds for investments, it is important to note that only selected trading platforms allow you to do so.

As a well-established trading platform in the Singapore market, Phillip Securities (POEMS) grants you access to a wide range of approved investment products for CPF and SRS funds. 

When it comes to setting up a regular savings plan with your CPF or SRS funds, POEMS also stands out as having one with the lowest fees in the market.

#3 – Access the latest market insights

In January 2022, Phillip Securities (POEMS) launched POEMS Mobile 3 App, an upgraded version of its Mobile App and significantly enhances the suite of investment tools available to its users.

Key features of the POEMS Mobile 3 App include:

• Research Reports & Analyst Calls: Gain access to research reports from in-house research analysts, with insights on a variety of companies
• In-built TradingView Chart: The TradingView Charting feature stands out for its versatility, offering over 100 technical indicators such as the Relative Strength Index (RSI), Moving Average Convergence/Divergence (MACD), and Exponential Moving Average (EMA), along with a comprehensive range of drawing tools
• Market Pulse: Stay informed with the latest financial news and market updates
• Thematic Portfolio: Explore diverse investment themes and identify long-term market trends for strategic investment planning
• Community: Engage with a network of investors for shared insights and discussions

#4 - No hidden fees

Phillip Securities (POEMS) maintains transparency regarding its fee structure across all accounts, You may be delighted to know that there are no platform fees, and settlement fees. 

US & HK Custody fees are waived for Cash Plus Account until 31 December 2024! 

There is an account maintenance fee of S$15.00 per quarter if you hold Singapore securities, but this fee can be waived if you make at least one trade of Singapore stocks and ETFs per quarter for POEMS Cash Plus Account and no account Maintenace fee for POEMS Cash Management Account. 

Below is a summary of the fees charged by POEMS Cash Plus Account and Cash Management Account:

POEMS offers one of the lowest fees for trading SGX-listed stocks and ETFs. The POEMS Cash Plus Account offers a flat fee from 0.06% per trade, with no minimum commission.

#5 - Multiple funding options

Phillip Securities (POEMS) stands out for its flexibility in funding options, allowing you to fund and trade in 10 different currencies.

Unlike many brokerage platforms that primarily accept bank transfers or Direct Debit Authorisation (DDA), Phillip Securities (POEMS) offers a variety of funding methods, including:

• PayNow
• DBS PayLah!
• OCBC PayAnyone
• GooglePay
• FAST (Fast And Secure Transfers)
• eNETS
• Electronic Payment for Shares (EPS)
• Internet Bill Payment
• Fund Transfer from DBS Bank Multi-Currency Account (non-SGD)
• Telegraphic Transfer
• CPF
• SRS
• GIRO - Shares/Regular Savings Plan/Share Builders Plan

Which Phillip Securities (POEMS) account is more suitable for me?

Phillip Securities (POEMS) offers users with a few account types to choose from, of which the two most popular types are: Cash Plus Account and Cash Management Account.

The latter is directly linked to your Central Depository (CDP) account while the former is a custodian account.

Just to recap, a CDP account provides clearing, settlement, and depository facilities for Singaporean investors. 

The key difference is that with a CDP account, the shares purchased are kept under your name.

On the other hand, for custodian accounts, shares that you purchased are held in custody by the brokerage platform you transacted from.

In summary, the differences between the two are as follow.

Generally, the Cash Plus Account is preferred if you are an active investor who wants to enjoy low fees, a multi-currency facility, and easy deposit via PayNow.

Choosing the right Phillip Securities (POEMS) platform for your needs

As a POEMS user, you will have access to a variety of platforms tailored to different trading needs and preferences. 

These include POEMS 2.0 (web browser), POEMS Mobile 2.0, POEMS Mobile 3 App and POEMS Pro. 

Here’s a quick guide to help you determine which platform suits you best:

POEMS 2.0 (Web Browser)

• Ideal for: Investors who prefer trading from a desktop environment with a comprehensive web interface
• Features: User-friendly interface, real-time market data, extensive research resources, and easy access to a wide range of investment products
   

POEMS Mobile 2.0 and POEMS Mobile 3 App

• Ideal for: Busy traders who require the flexibility to trade from anywhere using their mobile devices
• Features: Both Apps offer easy navigation, quick access to market data, and the ability to execute trades efficiently. The POEMS Mobile 3 App, being the latest version, offers enhanced features and a more intuitive user experience

POEMS Pro

• Ideal for: Active traders who require advanced trading tools and functionalities
• Features: Sophisticated charting tools, customisable layout, direct market access, and advanced order types for a more dynamic trading experience

POEMS users will have access to the following markets:

Our take on Phillip Securities (POEMS)

Phillip Securities (POEMS) has a long-established history operating in Singapore as well as 14 other countries.

It is the pioneer for online stock trading in Singapore, launched back in 1996 for retail investors.

Phillip Securities (POEMS) offers one of the most competitive fee structures for CPF and SRS investing in Singapore stocks, with POEMS Cash Plus starting from just 0.06% per order and no minimum fees. 

Beyond stocks, Phillip Securities (POEMS) also provides low-cost access to a wide range of unit trusts, with 0% sales charges.

Phillip Securities (POEMS) also offers a  sign-up promotion, which is a bonus for new users who are looking to try out the brokerage platform.

If you have a question about Phillip Securities (POEMS), ask us in the Q&A section below.